Millennium Management LLC lowered its position in Hudson Pacific Properties Inc (NYSE:HPP) by 50.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 241,006 shares of the real estate investment trust’s stock after selling 243,914 shares during the period. Millennium Management LLC owned approximately 0.15% of Hudson Pacific Properties worth $7,004,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. We Are One Seven LLC purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at $112,000. Comerica Bank purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at $233,000. Jefferies Group LLC purchased a new stake in shares of Hudson Pacific Properties in the 3rd quarter valued at $498,000. Man Group plc boosted its holdings in shares of Hudson Pacific Properties by 28.4% in the 3rd quarter. Man Group plc now owns 18,100 shares of the real estate investment trust’s stock valued at $592,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Eaton Vance Management boosted its holdings in shares of Hudson Pacific Properties by 3.5% in the 4th quarter. Eaton Vance Management now owns 21,416 shares of the real estate investment trust’s stock valued at $622,000 after acquiring an additional 728 shares during the last quarter.
Shares of HPP traded up $0.04 during trading hours on Friday, hitting $35.31. The stock had a trading volume of 899,337 shares, compared to its average volume of 804,819. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.28 and a quick ratio of 1.28. Hudson Pacific Properties Inc has a fifty-two week low of $27.12 and a fifty-two week high of $36.06. The stock has a market cap of $5.47 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.93 and a beta of 0.72.
Several analysts have recently commented on HPP shares. Zacks Investment Research raised shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Thursday, February 7th. Sandler O’Neill raised shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating in a report on Friday, February 15th. Robert W. Baird upgraded shares of Hudson Pacific Properties from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. TheStreet upgraded shares of Hudson Pacific Properties from a “c+” rating to a “b” rating in a research note on Thursday, February 14th. Finally, Goldman Sachs Group upgraded shares of Hudson Pacific Properties from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $40.00 in a research note on Monday, March 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $38.67.
About Hudson Pacific Properties
Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.
Recommended Story: Convertible Shares
Receive News & Ratings for Hudson Pacific Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudson Pacific Properties and related companies with MarketBeat.com's FREE daily email newsletter.